Are you preparing to sell your property? Here you will find resources on understanding the home selling process, selling at auction, and a handy seller’s checklist. Of course your personal situation is unique to you, so if you have any questions on the best place for you to start, don’t hesitate to contact us.

At Harcourts, we aim to make the process of selling your home as straightforward as possible.

Methods of Sale

Below you will see our methods of selling homes. The two main categories are Fixed Price and No-Price.

When selling your home with a fixed price, a limit is set on the selling price.

By setting a fixed price on your property, you are able to attract buyers who are looking to buy in that specific price range. This helps buyers to know beforehand if they are within budget of the price you are looking for.

The downside to this approach is that the potential of a premium disappears. This is because the negotiation power is commonly in the hands of a single buyer as there is no competition, and therefore they negotiate to pay as little as possible.

This category of sales methods is preferred as it does not limit the potential of a selling price.

When marketing your property without a price, a wider audience is reached. The reason for this is because the focus is on benefits and high-profile marketing rather than price. Harcourts have found that a price guide can unintentionally put a restriction or ceiling on the price that buyers will pay.

We’ve found that more buyers enquire and consider the property when there is no price attached. Harcourts’ research indicates that many buyers purchase well above their initial budget and by capturing all possible enquiries and qualifying the buyers we receive a far greater number of offers.

How Price by Negotiation Works

Price by negotiation means that there is no price added to the property marketing, and that offers can be made for as long as the property is listed.

By removing a fixed price, and allowing offers for your property to come in based on merit, the possibility of a higher selling price increases.

This method has the possibility of a lengthier selling period, as there is no timeframe added to it.

How Deadline Sales Work

Deadline sales introduce a timeframe to the selling process. This means that offers set by the potential buyers for the property will be considered on or before a specified date.

Because of including a deadline date to the sale, competition is created if more than one offer is made. Competition between buyers produces a sense of urgency in the buyer, meaning that they may be willing to pay more money and make an offer faster than without a timeframe.

How selling on Tender Works

The tender process is a well recognised and respected method of sale. The property is marketed for a set period of time and all purchasers are invited to submit a tender on a specific time and date.

It is not uncommon to see purchasers pay more than the market value of the property in order to secure it. Tenders can also be conditional. This allows purchasers who are unable to be unconditional, to be in a position to submit an offer for your property.

How selling at Auction Works

Marketing an auction means that your property receives exposure prior to the auction date. An auction combines the strengths of creating competition, a time frame, and no fixed-price, but puts them in a transparent purchasing environment. This enhances the sense of competition by bringing buyers together in a public and live setting at the same time.

An independent expert negotiator drives the auction, and allows consecutive offers until the interested buyers have ended bidding.

Fixed Price

Buyers control terms

Can be sold before closing date

Cash buyers compete

Contract is always unconditional

Creates competition between buyers

Fixed closing date

Independant expert negotiator

No risk of under pricing

Price Guide

Seller sets settlement date

Transparent selling process

Price by Negotiation

Buyers control terms

Can be sold before closing date

Cash buyers compete

Contract is always unconditional

Creates competition between buyers

Fixed closing date

Independant expert negotiator

No risk of under pricing

Price Guide

Seller sets settlement date

Transparent selling process

Deadline

Buyers control terms

Can be sold before closing date

Cash buyers compete

Contract is always unconditional

Creates competition between buyers

Fixed closing date

Independant expert negotiator

No risk of under pricing

Price Guide

Seller sets settlement date

Transparent selling process

Tender

Buyers control terms

Can be sold before closing date

Cash buyers compete

Contract is always unconditional

Creates competition between buyers

Fixed closing date

Independant expert negotiator

No risk of under pricing

Price Guide

Seller sets settlement date

Transparent selling process

Auction

Buyers control terms

Can be sold before closing date

Cash buyers compete

Contract is unconditional

Creates competition between buyers

Fixed closing date

Independant expert negotiator

No risk of under pricing

Price Guide

Seller sets settlement date

Transparent selling process

Fixed Price

Buyers control terms

Can be sold before closing date

Cash buyers compete

Contract is always unconditional

Creates competition between buyers

Fixed closing date

Independant expert negotiator

No risk of under pricing

Price Guide

Seller sets settlement date

Transparent selling process

Price by Negotiation

Buyers control terms

Can be sold before closing date

Cash buyers compete

Contract is always unconditional

Creates competition between buyers

Fixed closing date

Independant expert negotiator

No risk of under pricing

Price Guide

Seller sets settlement date

Transparent selling process

Deadline

Buyers control terms

Can be sold before closing date

Cash buyers compete

Contract is always unconditional

Creates competition between buyers

Fixed closing date

Independant expert negotiator

No risk of under pricing

Price Guide

Seller sets settlement date

Transparent selling process

Tender

Buyers control terms

Can be sold before closing date

Cash buyers compete

Contract is always unconditional

Creates competition between buyers

Fixed closing date

Independant expert negotiator

No risk of under pricing

Price Guide

Seller sets settlement date

Transparent selling process

Auction

Buyers control terms

Can be sold before closing date

Cash buyers compete

Contract is unconditional

Creates competition between buyers

Fixed closing date

Independant expert negotiator

No risk of under pricing

Price Guide

Seller sets settlement date

Transparent selling process

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